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Annual Landsvirkjun consultation meeting, 2005

April 8, 2005

Meeting guests heard presentations by the Chairman of the Board, Jóhannes Geir Sigurgeirsson, and Friðrik Sophusson, Managing Director. Ragnheiður Ólafsdóttir, Head of Environmental Affairs at Landsvirkjun, spoke on the cooperative project of Alcoa and Landsvirkjun on sustainability in East Iceland, and the Head of Wholesale of Landsvirkjun's Energy Division, Eiríkur Svavarsson, told about the issuing of green certificates.

In his presentation, Jóhannes Sigurgeirsson discussed the Icelandic knowledge industry and knowledge society, explaining how the improved living standards of recent years were above all based on knowledge being applied in an organised way towards fresh advances in the economic and business world.

He commented that Landsvirkjun had helped to build up powerful knowledge activities through the years, while constructing hydroelectric plants and conducting research on Icelandic nature and hydrology. The resulting knowledge could become worth a great deal in a world which has sharply increased energy needs and has to utilise every option.

"We need to take advantage of these possibilities and have certainly already begun to, in which connection we could point to Greenland, where a project is off to a good start, and to Albania, where a project is under preparation.

We possess the technological, practical and operational knowledge required for these matters; however, we do not possess the optimum knowledge for making inroads into new commercial environments, although this knowledge has been cultivated by other Icelandic companies which have been assuming a stance in foreign markets in recent times.

My view is that these parties ought to join forces for a market advance in the overseas energy sector. The vehicle might be that Landsvirkjun, along with perhaps other energy firms, would establish a company with those experienced in a foreign setting, in order to work in the energy sector abroad," stated Jóhannes Sigurgeirsson in his address.

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